E-NPS account for NRI: Here's how NRIs can open NPS account online

NPS scores over other popular retirement products like Public Provident Fund (PPF) so far as investment options and returns are concerned

NRIs aged between 18 and 60 years can open NPS account (Representational image)&nbsp

New Delhi: National Pension System (NPS) has gained popularity in recent times after the government allowed an additional tax benefit of up to Rs 50,000 under Section 80CCD(IB) over and above the Section 80C benefit. Worth mentioning here that NPS scores over other popular retirement products like Public Provident Fund (PPF) so far as investment options and returns are concerned. Another big benefit of NPS is non-resident Indians (NRIs) can also open this account.

Here's how an NRI can open NPS account online

- NRIs aged between 18 and 60 years can open NPS account. NRIs need to have a PAN card along with a bank account in an NPS empanelled bank for KYC verification online.

- Visit PFRDA NPS trust website - https://enps.nsdl.com/eNPS/NationalPensionSystem.html - and choose eNPS. In the next step click on 'Registration' and then on new Registration to begin the process.

-Choose Non-Resident Indian option and choose the type of account—repatriable (NRE) or non-repatriable (NRO). Enter PAN, passport number and bank account details. Select country of residence from the dropdown list. After you submit all the required details an NPS registration form will be displayed and you need to fill all the required personal details in it.

-Now choose the pension fund manager from the drop-down list and investment mode-Active or Auto. If you select Active more then you have to specify the percentage allocation in the different asset class. But in case of Auto mode, the allocation will be done automatically based on a pre-decided strategy, depending on the age of the subscriber.

-In the next step enter nominee details. You can enter up to three nominees.

-Now you need to upload scanned signature and photograph in jpg format. Size of the image should be between 4-12 kb.

-Make an initial contribution of at least Rs 500 through the selected bank. After this, a Permanent Retirement Account Number (PRAN) will be generated.

-Now print the system-generated filled-in form, paste your photograph and put your signature and send the hard copy to the Central Record keeping agency of NPS within 90 days. This is the last but an essential stem as failure to do so will lead to freezing of NPS account.

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E-NPS account for NRI: Here's how NRIs can open NPS account onlineDescription:NPS scores over other popular retirement products like Public Provident Fund (PPF) so far as investment options and returns are concernedTimes Now